← HOUSING OPPORTUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by HOUSING OPPORTUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue: $2,307,819
Total expenses: $2,532,778
Contributions and grants received: $578,753
Grants paid: $0
Program service revenue: $1,330,829
Investment income: $189,609
Other revenue: $208,628
Total assets, end of year: $18,274,739
Total liabilities, end of year: $7,403,130
Net assets or fund balances, end of year: $10,871,609
Program services expenses (Part IX): $2,304,697
Management and general expenses: $174,052
Fundraising expenses: $54,029
Program service expenses (Part III): $2,304,697

Program services were 91.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$246,041
1f · All other contributions, gifts and grants

$332,712
2a · Program service revenue: SALARY REIMBURSEMENT

total $596,764 · related or exempt $596,764
2b · Program service revenue: DEVELOPMENT FEE

total $373,089 · related or exempt $373,089
2c · Program service revenue: MANAGEMENT FEES

total $254,443 · related or exempt $254,443
2d · Program service revenue: MISCELLANEOUS INCOME

total $92,275 · related or exempt $92,275
2e · Program service revenue: PARTNERSHIP MGMT FEE

total $14,258 · related or exempt $14,258
3 · Investment income

total $177,431 · excluded $177,431
6a · Gross rents

real property $667,704
6b · Less rental expenses

real property $459,076
6c · Rental income or loss

real property $208,628
6d · Net rental income or loss

total $208,628 · related or exempt $208,628
7a · Gross sales of assets other than inventory

other assets $220,000
7b · Less cost or other basis and sales expenses

other assets $207,822
7c · Gain or loss

other assets $12,178
7d · Net gain or loss

total $12,178 · excluded $12,178

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $1,555,185 · program services $1,347,490 · management and general $155,519 · fundraising $52,176
10 · Payroll taxes

total $115,268 · program services $115,268
13 · Office expenses

total $185,326 · program services $164,940 · management and general $18,533 · fundraising $1,853
20 · Interest

total $29,806 · program services $29,806
23 · Insurance

total $187,949 · program services $187,949
24a · Other expenses: MISC OPERATING & MAINT

total $144,894 · program services $144,894
24b · Other expenses: UTILITIES

total $118,571 · program services $118,571
24c · Other expenses: ENTITY EXPENSES

total $113,036 · program services $113,036
24d · Other expenses: REAL ESTATE TAXES

total $47,059 · program services $47,059
24e · All other expenses

total $35,684 · program services $35,684

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $887,411 · end of year $431,679
4 · Accounts receivable

beginning of year $60,315 · end of year $71,465
10a · Land, buildings and equipment: cost or other basis

$13,199,661
10b · Land, buildings and equipment: accumulated depreciation

$4,358,380
10c · Land, buildings and equipment, net

beginning of year $7,052,360 · end of year $8,841,281
14 · Intangible assets

beginning of year $155,971 · end of year $147,433
15 · Other assets

beginning of year $7,760,603 · end of year $8,782,881
17 · Accounts payable and accrued expenses

beginning of year $32,478 · end of year $139,790
23 · Secured mortgages and notes payable

beginning of year $3,665,747 · end of year $6,076,495
25 · Other liabilities

beginning of year $1,120,233 · end of year $1,186,845
27 · Net assets without donor restrictions

beginning of year $11,098,202 · end of year $10,871,609

Mission and programs · 2023

Mission

TO PROVIDE LOW-COST AND/OR RENT SUBSIDIZED HOUSING TO LOW/MODERATE INCOME CITIZENS IN THE NORTH SUBURBAN COMMUNITIES OF CHICAGO IN COOK AND LAKE COUNTIES, ILLINOIS

PROVIDE LOW COST/RENT SUBSIDIZED HOUSING TO LOW INCOME CITIZENS IN COMMUNITIES IN THE NORTHERN SUBURBS OF METROPOLITAN CHICAGO

Expenses $2,304,697 · Revenue $1,330,829

As filed on the 2023 return.

Listed in Part VII

Otis GatlinOTIS GATLIN

DIRECTOR

Total calculated

$0

Hours/week

1
Nancy A GearyNANCY A GEARY

TREASURER

Total calculated

$0

Hours/week

1
Dede KellerDEDE KELLER

DIRECTOR

Total calculated

$0

Hours/week

1
Delisa WilliamsDELISA WILLIAMS

DIRECTOR

Total calculated

$0

Hours/week

1
Jack KaplanJACK KAPLAN

DIRECTOR

Total calculated

$0

Hours/week

1
Chealon Ann ShearsCHEALON ANN SHEARS

DIRECTOR

Total calculated

$0

Hours/week

1
Jon TeuberJON TEUBER

DIRECTOR

Total calculated

$0

Hours/week

1
Sydney ZimelisSYDNEY ZIMELIS

DIRECTOR

Total calculated

$0

Hours/week

1
Sarah HomanSARAH HOMAN

DIRECTOR

Total calculated

$0

Hours/week

1
Joseph KaczmarskiJOSEPH KACZMARSKI

DIRECTOR

Total calculated

$0

Hours/week

1
Lakeysha D GilbertLAKEYSHA D GILBERT

DIRECTOR

Total calculated

$0

Hours/week

1
Phalecia GrayPHALECIA GRAY

DIRECTOR

Total calculated

$0

Hours/week

1
William A Sholten IIIWILLIAM A SHOLTEN III

PRESIDENT

Total calculated

$0

Hours/week

1 + 1 related
Kathleen CortezKATHLEEN CORTEZ

VICE PRESIDENT

Total calculated

$0

Hours/week

1
Michael CornellMICHAEL CORNELL

VICE PRESIDENT

Total calculated

$0

Hours/week

1
Robert J RodriguezROBERT J RODRIGUEZ

TREASURER

Total calculated

$0

Hours/week

1 + 1 related
Kristin A BergKRISTIN A BERG

SECRETARY

Total calculated

$0

Hours/week

1
Richard KoenigRICHARD KOENIG

EXECUTIVE DIRECTOR

Total calculated

$181,186

From this org

$181,186

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$181,186

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$181,186

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

FRIENDS OF BUILDERS OF SKILLS INC

501(C)(3) · AFFORDABLE HSG · IL

Directly controlled by HODC- RELATED
MCHENRY COUNTY COMMUNITY HOMES INC

501(C)(3) · AFFORDABLE HSG · IL

Directly controlled by HODC- RELATED

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

PHHH LLC

AFFORDABLE HSG · IL · income -$16,566 · assets $704,883

Directly controlled by HODC
HODC SKOKIE LLC

AFFORDABLE HSG · IL · income -$95,912 · assets $2,439,007

Directly controlled by HODC
HODC GLENVIEW LLC

AFFORDABLE HSG · IL · income -$109,883 · assets $3,012,364

Directly controlled by HODC
HODC OFFICE LLC

AFFORDABLE HSG · IL · income -$7,145 · assets $468,080

Directly controlled by HODC
HODC - 743 BRUMMEL APARTMENTS

AFFORDABLE HSG · IL · income $235,287 · assets $533,095

Directly controlled by HODC
HODC - JACKSON DUPLEXES

AFFORDABLE HSG · IL · income -$36,207 · assets $812,885

Directly controlled by HODC
HODC LCHA LLC

AFFORDABLE HSG · IL · income $4,185 · assets $1,695,147

Directly controlled by HODC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

131 CALLAN LLC

AFFORDABLE HSG · IL · 90.1% owned · share of income -$4,344 · share of assets $262,168 · general or managing partner

Directly controlled by HODC
IHDC II LIMITED

AFFORDABLE HSG · IL · 100% owned · share of income -$189,514 · share of assets $1,520,349 · general or managing partner

Directly controlled by HODC
CONRAD LP

AFFORDABLE HSG · IL · 0.01% owned · share of income -$14 · share of assets $298 · general or managing partner

Directly controlled by GSV DEVELOPMENT
HEART'S PLACE LP

AFFORDABLE HSG · IL · 0.01% owned · share of income -$21 · share of assets $627 · general or managing partner

Directly controlled by HEART'S PLACE GP LLC
CARY SENIOR LIVING LP

AFFORDABLE HSG · IL · 0.01% owned · share of income -$39 · share of assets $1,523 · general or managing partner

Directly controlled by CARY SENIOR LIVING GP LLC
SPRUCE VILLAGE LP

AFFORDABLE HSG · IL · 0.01% owned · share of income -$42 · share of assets $1,102 · general or managing partner

Directly controlled by SPRUCE VILLAGE LLC
HODC WILMETTE LIMITED PARTNERSHIP

AFFORDABLE HSG · IL · 0.01% owned · share of income -$16 · share of assets $656 · general or managing partner

Directly controlled by HODC WILMETTE LLC
UP HANOVER LANDING LP

AFFORDABLE HSG · IL · share of income -$24 · share of assets $449 · general or managing partner

Directly controlled by HODC HANOVER LANDING GP LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

IHDC II CORP

C · AFFORDABLE HSG · IL · 100% owned · share of income -$181 · share of assets $104,643

Directly controlled by HODC
GSV DEVELOPMENT CORPORATION

C · AFFORDABLE HSG · IL · 100% owned · share of income -$14 · share of assets $40,255

Directly controlled by HODC
HEARTS PLACE GP LLC

C · AFFORDABLE HSG · IL · 100% owned · share of income -$21 · share of assets $346,130

Directly controlled by HODC
CARY SENIOR LIVING GP LLC

C · AFFORDABLE HSG · IL · 100% owned · share of income -$39 · share of assets $576,739

Directly controlled by HODC
SPRUCE VILLAGE LLC

C · AFFORDABLE HSG · IL · 100% owned · share of assets $78,259

Directly controlled by HODC
HODC WILMETTE LLC

C · AFFORDABLE HSG · IL · 100% owned · share of assets $193,244

Directly controlled by HODC
HODC BROADVIEW LLC

C · AFFORDABLE HSG · IL · 100% owned · share of income -$339 · share of assets $1,964,057

Directly controlled by HODC
HODC HANOVER LANDING GP LLC

C · AFFORDABLE HSG · IL · 100% owned · share of income -$21 · share of assets $435,853

Directly controlled by HODC

Provenance

Return type: form_990
Tax year: 2023
Filed: 5 November 2024
IRS schema version: 2023v5.1
Source object: 202403109349303050

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